What requirements must be met to receive an early lump-sum payment?

To claim an early lump-sum payment, all requirements must be met in one of the following cases. ＜Eligibility requirements for early lump-sum payment in corporate-type DC＞ Case 1) All of the fol... Show Detail

Do I have to pay taxes on my benefits?

It varies depending on the type of benefit, the receiving method, etc. (1) Retirement benefits are taxable as retirement income if received in a lump sum (one-time receipt). But, they are no... Show Detail

What procedures are required when a participant dies?

The bereaved family needs to file a claim for a lump-sum death benefit in writing. The bereaved family is requested to contact the AnswerCenter. (Link) (Please have the deceased's basic pension n... Show Detail

What is the retirement income deduction?

Retirement income deduction is a system that allows a certain amount of money to be deducted based on years of service when calculating taxable retirement income. If retirement income exceed... Show Detail

What is the public pension deduction?

The public pension deduction is a system that allows a certain amount of money to be deducted based on age and the amount of income from public pensions, etc. when calculating taxable miscellaneous... Show Detail

I received benefits in a lump sum (one-time). Do I need to file a final tax return?

Income tax and residential tax are imposed as retirement income, and the taxation is completed only through withholding at source by submitting the specified declaration in the receipt procedure. (... Show Detail

How can I confirm a beneficiary I designated for my lump-sum death benefit?

If you have designated a beneficiary for your lump-sum death benefit, you can confirm this in the following ways. ■How to check on the AnswerNet. 　 Log in to the AnswerNet ＞ Scroll down on the ... Show Detail

By what age should I start receiving my assets? Can I choose how I want to receive my assets?

You can choose when to start receiving benefits between the age of 60 and 75 . ＊Due to law amendments in April 2022, the claim period was expanded to between age 60 and age 75. You can ch... Show Detail

How do I designate, change or cancel a beneficiary for lump-sum death benefit?

You can designate a beneficiary for lump-sum death benefit through written procedure. ＜Individual-type DC (iDeCo)＞ Contact the AnswerCenter. (Link) ＜Corporate-type DC＞ Please download the p... Show Detail

When receiving retirement benefits, which receiving method is more tax-efficient, lump-sum receipt or periodic receipt?

The lump-sum receipt is treated as retirement income. The retirement income deduction applies to reduce he tax burden. The periodic receipt is treated as miscellaneous income related to public p... Show Detail